Hypereutectic Al-Si alloys are widely used in transportation equipment industry due to their low thermal expansion characteristics and excellent strength and wear characteristics. However, Hypereutectic Al-Si alloys may degrade mechanical properties due to the formation of coarse primary Si and segregation during solidification. In this study, Al-Si-Fe Hypereutectic alloys were fabricated by Rapid Solidification Process (RSP), which can refine primary Si particles. Then, the alloy flake made by spray casting was compressed to produce an extrusion preform. We measured the microstructure and hardness of the extruded material with Al flake preform and the extruded material produced by mold casting. In the Al-Si-5Fe alloy, primary Si particles and intermetallic compounds in the form of needle and plate were extracted. In the case of spray casting extruded material, the primary Si particles were finer than the casting extruded material. The hardness of Al extruded material prepared by RSP casting was higher than that of ordinary casting extruded material. The conclusion obtained are as follows; Hypereutectic Al-17Si-5Fe alloys were fabricated by rapid solidification method, it was possible to refine Si and intermetallic compounds. In the preparation of hypereutectic Al-17Si-5Fe alloy by the rapid solidification method, the pressure of the melting crucible was low and the faster the drum speed, the smaller grain alloy flakes could be produced. Hot extrusion of hypereutectic Al-17Si-5Fe alloy in rapid solidification method required higher pressure than hot extrusion of permanent moldcasted alloy. However, it was possible to produce extruded material having a better surface than hot extruded material of permanent mold casting. After T6 heat treatment, the primary Si phases were increased 13.6%, however extruded hypereutectic Al-17Si-5Fe alloys were increased after T6 heat treatment. It is considered that the stress of the extruded material is dissolved and the precipitation strengthened phase contributes to the increase of the hardness.